CFG Bank/bond loan: New AMMC visa

The Moroccan Capital Market Authority (AMMC) announced on Thursday that it approved, on Thursday, a prospectus relating to the issue by CFG Bank of a perpetual subordinated bond loan with loss absorption and coupon payment cancellation mechanisms. a ceiling of 40 million dirhams (MDH).

This loan, the issue of which is not subject to any particular guarantee, is made up of tranches A (revisable every 5 years – listed), B (revisable every 5 years – unlisted), C (revisable annually – listed) and D (revisable annually – unlisted), specifies the AMMC in a press release.

With regard to the maturity of the loan, it is perpetual with the possibility of early repayment, beyond the 5th year from the date of entitlement, which can only be carried out at the initiative of the issuer and after agreement of Bank Al-Maghrib with a minimum notice period of five years.

The subscription period runs from September 26 to October 3, 2022 inclusive.

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